Recently the IRS was given the ability to grant first time home buyers $8,000 credit or 10% of the purchase price ($8,000 being the max) on their tax return.  You must be a first time home buyer and use the home as your primary residence.  To qualify as a first time home buyer you must have not owned a property in the previous 3 years.  If you are purchasing with a spouse they must not have purchased a home in the past 3 years to qualify. You must close on the property before Dec. 1st 2009.  The tax credit doesn’t need to be repaid (as was once the course of action in prior years tax credits).  There are some great resources out there to help you with how to credit this on your tax return. You can always look at www.irs.gov for more information.  So lets set up an appointment.  Give me a call or an email with anything you may need to better service you.

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